P&G may make changes as it faces challenges

In this taken March 25, 2008, Robert A. McDonald, chief operating officer for Procter & Gamble Co., is shown in his office in Cincinnati. McDonald is considered the top candidate should P&G announce a successor to chief executive officer A.G. Lafley. (AP Photo/Tom Uhlman)
— AP

In this taken March 25, 2008, Robert A. McDonald, chief operating officer for Procter & Gamble Co., is shown in his office in Cincinnati. McDonald is considered the top candidate should P&G announce a successor to chief executive officer A.G. Lafley. (AP Photo/Tom Uhlman)
/ AP

The company also has been adding upscale businesses, acquiring the Miami-based grooming chain The Art of Shaving, which sells razors for $300 and up, and the Frederic Fekkai luxury hair care brand.

Deutsche Bank analyst Bill Schmitz Jr. wrote in a note to investors Tuesday that sales growth is "likely anemic over the next few quarters, short-term catalysts outside valuation are few, and ability to expand share and drive category growth with reinvestment remains uncertain."

Shares of the company that makes Gillette shavers, Tide detergent and Pantene shampoo fell 73 cents, or 1.4 percent, to close Tuesday at $52.41. They traded as high as $73.57 as recently as last September before falling as low as $43.93 earlier this year.